11 October 2007

Recent Investments

Chinese multinational company Solarfun, which specializes in the production of solar panels, has set up its headquarters in Barcelona to start its operations in the Iberian Peninsula. The company hopes to benefit from the increasing demand of renewable energy in Spain, a market that is growing at a faster pace than Germany, the company's director, Luz Ma said. According to Ms. Ma, the limited production of silicon, one of the main components of photovoltaic panels, is hindering the current market needs for renewable energy systems. Solarfun expects revenue in the area of 100 million euros in the Spanish market, to be increased to 360 million euros by next year, with 120 MW of installed capacity. The company is to start operating in Portugal next year.